Northern Latitudinal Railway likely to be completed by 2020

If supported by the Government, the Northern Latitudinal Railway project could be built by 2020, the Sever-Press Agency quotes Russian Transport Minister Maxim Sokolov as saying in Salekhard after the first meeting of the working group for the development of the transport system of the State Commission for Arctic Development Issues.

According to Mr. Sokolov, the project's conceptual stage has been completed, with a financial and economic model approved. The final decision on the project will be made by the Russian Government.

"Our decisions should be reflected not only in the federal targeted transport development program, but also in the federal budget in the short term. This is the only way the project can proceed," he said.

Mr. Sokolov noted that the Yamal-Nenets Autonomous Area would take on part of the construction costs.

The acting governor of the Yamal-Nenets Autonomous Area, Dmitry Kobylkin, expressed confidence that the project would be implemented. "There is no doubt that the Northern Latitudinal Railway project will be built. We've received an endorsement from the head of state, who said that the project was generally of national importance," he said.

According to Mr. Kobylkin, the project will be financed by the Ministry of Transport, the Government of the Yamal-Nenets Autonomous Area, Russian Railways, Yamal Railways, Gazprom, and private partners and potential investors.